The actor came out of the hospital on a wheelchair with wife Saira Banu, family friends and doctors.
Saira hugged and kissed the actor on his cheek before asking him to wave to the waiting fans.
The 94-year-old actor was admitted to the city-based Lilavati Hospital in suburban Bandra last Wednesday.
Earlier, Saira took to Twitter to thank fans and doctors for their support and well wishes.
"By the grace of Allah, Dilip Sahab is under the care of Dr Nitin Gokhale, Dr Arun Shah of Lilavati Hospital and Sahab's personal family physicians Dr R C Sharma and Dr S Gokhale, along with the able input of Dr S D Bapat.
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